# Table 7: Coefficient Path — Adding Countries by Income Rank

Countries added from richest to poorest in steps of 10. Shows how Z₁ evolves as sample composition shifts.


## Current Account / GDP

| Top N | Countries | OECD % | Z₁ | SE | p | R² |
|---:|---:|---:|---:|---:|---:|---:|
| 10 | 6 | 40% | 16.48 | 68.81 | 0.8110 | 0.399 |
| 20 | 15 | 50% | 32.49 | 31.68 | 0.3056 | 0.381 |
| 30 | 25 | 63% | 38.01 | 22.79 | 0.0957 | 0.368 |
| 40 | 34 | 62% | 29.88 | 16.09 | 0.0635 | 0.346 |
| 50 | 43 | 62% | 26.06 | 15.59 | 0.0948 | 0.334 |
| 60 | 51 | 55% | 26.90 | 15.08 | 0.0747 | 0.333 |
| 70 | 60 | 51% | 41.65* | 16.92 | 0.0139 | 0.298 |
| 80 | 66 | 46% | 22.72 | 16.00 | 0.1558 | 0.290 |
| 90 | 76 | 42% | 29.87 | 15.80 | 0.0589 | 0.271 |
| 100 | 85 | 38% | 31.21* | 15.32 | 0.0417 | 0.286 |
| 110 | 94 | 35% | 34.20* | 14.73 | 0.0204 | 0.283 |
| 120 | 104 | 32% | 22.55 | 14.16 | 0.1113 | 0.255 |
| 130 | 113 | 29% | 10.32 | 13.57 | 0.4473 | 0.232 |
| 140 | 122 | 27% | 7.53 | 14.33 | 0.5993 | 0.184 |
| 150 | 130 | 25% | 4.81 | 13.54 | 0.7223 | 0.183 |
| 160 | 136 | 24% | 13.87 | 13.35 | 0.2989 | 0.192 |
| 170 | 144 | 22% | 12.37 | 12.91 | 0.3383 | 0.188 |
| 180 | 153 | 21% | 6.53 | 12.46 | 0.6004 | 0.185 |
| 189 | 160 | 20% | 4.23 | 12.16 | 0.7282 | 0.194 |

## Gross Savings / GDP

| Top N | Countries | OECD % | Z₁ | SE | p | R² |
|---:|---:|---:|---:|---:|---:|---:|
| 10 | 6 | 40% | -21.85 | 37.78 | 0.5640 | 0.461 |
| 20 | 15 | 50% | 42.56 | 40.15 | 0.2897 | 0.310 |
| 30 | 25 | 63% | 48.56 | 29.00 | 0.0945 | 0.446 |
| 40 | 34 | 62% | 36.83 | 24.81 | 0.1380 | 0.259 |
| 50 | 42 | 62% | 32.17 | 23.69 | 0.1747 | 0.132 |
| 60 | 50 | 55% | 39.13 | 22.53 | 0.0826 | 0.189 |
| 70 | 58 | 51% | 22.07 | 22.34 | 0.3235 | 0.185 |
| 80 | 64 | 46% | 24.72 | 21.55 | 0.2514 | 0.185 |
| 90 | 73 | 42% | 36.27 | 20.65 | 0.0792 | 0.119 |
| 100 | 80 | 38% | 47.11* | 20.20 | 0.0198 | 0.139 |
| 110 | 87 | 35% | 50.45* | 20.18 | 0.0125 | 0.079 |
| 120 | 97 | 32% | 52.39* | 20.43 | 0.0104 | 0.046 |
| 130 | 105 | 29% | 53.87** | 20.30 | 0.0080 | 0.015 |
| 140 | 114 | 27% | 59.04** | 19.85 | 0.0030 | 0.047 |
| 150 | 121 | 25% | 53.16** | 19.22 | 0.0057 | 0.095 |
| 160 | 126 | 24% | 57.71** | 18.93 | 0.0023 | 0.140 |
| 170 | 134 | 22% | 50.36** | 19.26 | 0.0090 | 0.167 |
| 180 | 143 | 21% | 36.26 | 20.47 | 0.0766 | 0.181 |
| 189 | 149 | 20% | 40.62* | 19.71 | 0.0394 | 0.229 |

## Gross Investment / GDP

| Top N | Countries | OECD % | Z₁ | SE | p | R² |
|---:|---:|---:|---:|---:|---:|---:|
| 10 | 6 | 40% | -1.43 | 54.58 | 0.9792 | -0.117 |
| 20 | 15 | 50% | 45.80 | 27.36 | 0.0949 | 0.076 |
| 30 | 25 | 63% | 43.08* | 20.45 | 0.0355 | 0.084 |
| 40 | 34 | 62% | 39.79* | 15.91 | 0.0126 | 0.150 |
| 50 | 43 | 62% | 32.16* | 14.78 | 0.0297 | 0.133 |
| 60 | 51 | 55% | 28.57* | 14.40 | 0.0474 | 0.132 |
| 70 | 59 | 51% | 15.52 | 14.93 | 0.2987 | 0.086 |
| 80 | 65 | 46% | 22.45 | 15.01 | 0.1350 | 0.071 |
| 90 | 74 | 42% | 31.36* | 14.68 | 0.0328 | 0.071 |
| 100 | 81 | 38% | 24.12 | 14.79 | 0.1031 | 0.058 |
| 110 | 88 | 35% | 21.76 | 14.66 | 0.1378 | 0.078 |
| 120 | 98 | 32% | 18.88 | 14.43 | 0.1908 | 0.081 |
| 130 | 105 | 29% | 27.71 | 15.38 | 0.0718 | 0.071 |
| 140 | 114 | 27% | 18.86 | 15.24 | 0.2158 | 0.070 |
| 150 | 121 | 25% | 24.34 | 14.66 | 0.0969 | 0.069 |
| 160 | 126 | 24% | 26.49 | 14.34 | 0.0648 | 0.079 |
| 170 | 134 | 22% | 32.52* | 14.11 | 0.0212 | 0.092 |
| 180 | 143 | 21% | 32.01* | 13.71 | 0.0196 | 0.090 |
| 189 | 148 | 20% | 40.39** | 14.02 | 0.0040 | 0.093 |

## 10-Year Bond Yield

| Top N | Countries | OECD % | Z₁ | SE | p | R² |
|---:|---:|---:|---:|---:|---:|---:|
| 20 | 8 | 50% | 28.53 | 23.57 | 0.2274 | 0.541 |
| 30 | 17 | 63% | 50.95** | 19.59 | 0.0096 | 0.392 |
| 40 | 20 | 62% | 59.96*** | 17.68 | 0.0007 | 0.286 |
| 50 | 22 | 62% | 55.05* | 21.55 | 0.0109 | 0.253 |
| 60 | 22 | 55% | 55.05* | 21.55 | 0.0109 | 0.253 |
| 70 | 23 | 51% | 51.32* | 21.09 | 0.0152 | 0.264 |
| 80 | 23 | 46% | 51.32* | 21.09 | 0.0152 | 0.264 |
| 90 | 23 | 42% | 51.32* | 21.09 | 0.0152 | 0.264 |
| 100 | 23 | 38% | 51.32* | 21.09 | 0.0152 | 0.264 |
| 110 | 23 | 35% | 51.32* | 21.09 | 0.0152 | 0.264 |
| 120 | 23 | 32% | 51.32* | 21.09 | 0.0152 | 0.264 |
| 130 | 23 | 29% | 51.32* | 21.09 | 0.0152 | 0.264 |
| 140 | 23 | 27% | 51.32* | 21.09 | 0.0152 | 0.264 |
| 150 | 23 | 25% | 51.32* | 21.09 | 0.0152 | 0.264 |
| 160 | 23 | 24% | 51.32* | 21.09 | 0.0152 | 0.264 |
| 170 | 23 | 22% | 51.32* | 21.09 | 0.0152 | 0.264 |
| 180 | 23 | 21% | 51.32* | 21.09 | 0.0152 | 0.264 |
| 189 | 23 | 20% | 51.32* | 21.09 | 0.0152 | 0.264 |